Molybdenum News Center

Chinese Domestic Molybdenum Prices - December 8, 2023

This week, the overall Chinese domestic molybdenum prices showed a pattern of initial increase followed by a decline. 

At the beginning of the week, influenced by the still acceptable steel procurement prices and the stable operation of international molybdenum prices at high levels, the market continued the upward trend from the previous week. However, towards the end of the week, due to the consecutive decline in international molybdenum prices and the simultaneous decrease in steel procurement prices, many suppliers experienced a noticeable increase in panic sentiment and a heightened awareness of profit-taking. Consequently, molybdenum prices shifted from an increase to a decline.

According to statistics from Chinatungsten Online, the current price of ferro molybdenum is approximately 10,000 yuan per ton lower than last week, a decrease of 4.81%. The price of molybdenum concentrate has dropped by about 60 yuan per ton MO, with an increase of 1.96%. The price of sodium molybdate has increased by about 2,000 yuan per ton, a rise of 1.40%. Ammonium heptamolybdate has decreased by about 1,000 yuan per ton, a decrease of 0.49%. The price of molybdenum powder has increased by about 1 yuan per kilogram, a rise of 0.25%. The price of molybdenum oxide has decreased by about 70 yuan per ton, a decrease of 2.21%. This suggests that the decline in molybdenum raw material prices towards the end of the week is significantly greater than the increase at the beginning of the week. The price of molybdenum concentrate has dropped from a peak of about 3,120 yuan per ton to the current level of about 3,000 yuan per ton.

Recently, steel companies participating in molybdenum iron tenders include Qingshan Group, Hunan Henggang Steel, Lianyuan Iron and Steel, Baosteel (Meishan), Baosteel (Zhanjiang), and Changshu Longteng Special Steel. Among them, Qingshan Group has tendered for 500 tons at a price of 196,000 yuan per ton; Hunan Henggang Steel has tendered for 60 tons at a price of 195,000 yuan per ton; Lianyuan Iron and Steel has tendered for 60 tons at a price of 195,000 yuan per ton.

On the news front, data from the China Iron and Steel Association (CISA) shows that in November 2023, China imported 614,000 tons of steel, a decrease of 54,000 tons or 8.1% compared to the previous month. China exported 8.005 million tons of steel, an increase of 66,000 tons or 3.2% compared to the previous month. From January to November 2023, China's cumulative steel imports were 6.98 million tons, a decrease of 2.885 million tons or 29.3% compared to the same period last year. Cumulative steel exports were 82.658 million tons, an increase of 21.696 million tons or 35.6% compared to the same period last year.

Prices of molybdenum products on December 8, 2023

Picture of molybdenum sheet

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